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Luxury Living: The Most Expensive Cities in the World

by Lux Joseph 2. April 2015

For the most part, we all enjoy traveling; whether that involves venturing into an unknown part of our surroundings or setting course for a foreign and mysterious country altogether, people like to travel. Yet there is always that one place that is just so great we often take the time to sit back and wonder how wonderful it would be if we had actually lived there. What would it take to live there comfortably and could it actually happen? Well, if you were thinking of living in one of the cities about to be mentioned, you’d better talk those plans over with your wallet.

The Economist Intelligence Unit came out with a survey listing the top ten most expensive cities in the world, and for those of you wondering, New York was 26th on the list. In fact New York is set as the base standard that other cities are compared to. At the very top of that list is Singapore in Asia. Singapore is a stand-alone city-state and because of this, it has to gain its resources, including electricity and water, from other neighboring countries. This can get very expensive, leading to higher utility cost. The transportation costs are also close to triple what it takes to get around NY. Not to mention the higher grocery prices and clothing prices, which is 50% more than that of New York. With all that to keep in mind, it’s no wonder why Singapore made top of the list two years in a row.

Another city on the list is Seoul, South Korea. While Seoul ties with Singapore when it comes to clothing expenses, what make this city really difficult to live in are the high prices for everyday food items. Fashion you could go on without, but food happens to be a pretty important part of our everyday life. Using the dollar to show the difference, a single kg loaf of bread in Singapore would go for roughly $3.50, while the same loaf of bread would cost an average of $13.00 in Seoul. This alone sets Seoul up for being a really expensive place and maybe even difficult place to live in. If you can’t afford to eat then you might as well not worry too much about the other necessities either. When CME has done transports to Seoul, the escorts have experienced and can relate to this cost difference when it comes to getting a meal before their transport.  

Standing on its own when representing Europe, Paris is the only European country to make it into the top ten list. With its generally high living expenses all around, the only thing you can look forward to are the relatively cheaper prices of alcohol and tobacco, and while that’s a lot of people’s dreams, it would be ideal if you at least had an apartment to enjoy such luxuries in. When it comes to arranging accommodations in Paris, hotels are priced relatively well compared to other areas of the world. Of course seasons depict different rates, but CME definitely sees a significant increase in costs when it comes to ground transportation. A sedan transfer in Germany that would be $125 could be more than double in Paris.

Others on the list included Osio, Zurich, Sydney, Melbourne, Geneva, Copenhagen, and Hong Kong (Which was tied with Seoul). If you’re really considering a move to one of these cities, it’s highly recommended that you consult your financial advisor to make sure that your bank can take the amount of pressure being placed on your funds. Otherwise, just enjoy your stay and let it be a happy memory that you can cherish in your comforts of your affordable abode. 

At CME, our nurses and physicians travel to all points of the world. They use currencies from dollars to pounds to euros to yen depending on their destinations. Of course anywhere you travel do will encounter tourist traps with inflated prices, but as you venture out to local areas you soon find out why some of these cities are recognized as some of the most expensive cities in the world.

Sources: 

http://www.ctvnews.ca/business/singapore-most-expensive-city-for-living-seoul-most-expensive-for-food-1.2263545#

http://www.huffingtonpost.com/2015/03/04/most-expensive-cities-world_n_6793688.html

http://www.dailymail.co.uk/money/news/article-2977215/World-s-expensive-cities-revealed-Singapore-tops-charts-again.html

 


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